Codemge

What Codemge does

Codemge (Companhia de Desenvolvimento de Minas Gerais) is a state-owned economic development company organized as a sociedade por ações (corporation) and part of the Indirect Administration of the State of Minas Gerais, headquartered in Belo Horizonte at the Cidade Administrativa. Founded in 2018 through a partial split (cisão parcial) of Codemig, it operates with 195 employees and is controlled by the State of Minas Gerais, which currently holds 95% of shares following a November 2025 reorganization (the previous structure had the state at 99.99%). Codemge functions as the state's mandated counterparty for concessions, public-private partnerships (PPPs), strategic project development, asset management, and mineral-asset participation across Minas Gerais.

The company's operations are organized around five pillars: (1) Concessões e PPPs — project structuring, modeling, and oversight across health (Complexo de Saúde HoPE), education (PPP Educação), transport (Terminais, Ponte Delfinópolis), water (Rio Doce, Rio Picão), and tourism (Caxambu, Thermas Antônio Carlos, Serraria Souza Pinto); (2) Gestão de Ativos — industrial districts, venture investment funds (FIP Seed4Science for seed-stage science and technology; FIP Biotec e Ciências da Vida for biotechnology and life sciences), and a portfolio of cultural and tourism real estate (Parque das Águas de Caxambu, Grande Hotel de Araxá, Palace Hotel Poços de Caldas, Expominas venues, Minascentro, Centro de Cultura Presidente Itamar Franco, Parque do Palácio das Mangabeiras, multiple balneários); (3) Projetos Estratégicos — the Cidade Parceira program, the PELTMG state logistics and transport plan, and public-transport network management for the RMBH metropolitan region; (4) Geologia e Mineração — geological mapping, mineral exploration, and management of niobium (nióbio), phosphate, and mineral-water assets, including indirect participation via a 5%-held subsidiary Codemig in a Sociedade em Conta de Participação with CBMM (Companhia Brasileira de Metalurgia e Mineração) for niobium exploration; and (5) M2 – Mercado Mineral, a digital mineral-market platform for mining-sector transactions. A Licitações e Contratos procurement portal supports supplier registration, bid notices, and contract tracking.

Codemge does not operate under a traditional commercial pricing model. Its revenue mechanics are tied to state appropriations, concession/PPP advisory fees, mineral-asset participation (notably via the CBMM niobium SCP), and income from managed cultural/tourism properties and investment funds. The customer base is essentially the State of Minas Gerais and municipal governments — there are no named commercial enterprise customers. Governance includes a Board of Directors, Fiscal Council, and Statutory Audit Committee, with LGPD compliance maintained through an Internal Privacy Committee and a published external guide. The management team is led by CEO Luísa Cardoso Barreto (Diretora-Presidente) and comprises 30+ named directors and managers spanning mining/assets, infrastructure/PPPs, concessions/partnerships, administration/finance, legal, governance, audit, and data/technology functions.

Name

Codemge

Legal name

Companhia de Desenvolvimento de Minas Gerais

Website

https://codemge.com.br

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

101–250 employees

Short description

Codemge is a state-owned economic development company of Minas Gerais, Brazil, mandated to structure concessions and PPPs, manage mining and cultural/tourism assets, and execute strategic state projects for the State of Minas Gerais and municipal governments.

Ownership category

akta.pro rank

Product category

Economic Development Services

NAICS

Corporate, Subsidiary, and Regional Managing Offices (551114), Management of Companies and Enterprises (5511)

SIC

Services-Management Services (8741)

akta.pro primary industry

Infrastructure Planning, Capital Programs & Project Delivery Offices (PMOs) (BPAIALAJ)

Keywords

• Economic development services
• Public-private partnerships
• Concession management
• Mining asset management
• Infrastructure development

Headquarters

HQ city

Belo Horizonte

HQ country

Brazil

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Others

Distribution channels1 record

Marketing channels4 records

Core offering

Codemge (Companhia de Desenvolvimento de Minas Gerais) is a state-owned economic development company of the State of Minas Gerais, Brazil. It manages a diversified portfolio of services across five core pillars: (1) Concessions and Public-Private Partnerships (PPPs) structuring and oversight; (2) Asset management of industrial districts, investment funds, and cultural/tourism properties; (3) Strategic projects including the Cidade Parceira program and metropolitan transport network; (4) Geology and mining asset management (niobium, phosphate, mineral water); and (5) a public procurement portal (Licitações e Contratos) and mineral market platform (M2).

Product overview

Codemge (Companhia de Desenvolvimento de Minas Gerais) is a state-owned economic development company that operates a diversified portfolio of services organized around five core pillars: (1) Concessões e PPPs for managing public-private partnerships and concessions; (2) Gestão de Ativos covering industrial districts, investment funds (FIP Seed4Science, FIP Biotec), and cultural/tourism properties; (3) Projetos Estratégicos including the Cidade Parceira program and transport network management; (4) Geologia e Mineração for geological mapping and mining asset participation (including niobium via SCP with CBMM); and (5) M2 – Mercado Mineral for mineral market services. The company also provides procurement/contracting infrastructure through its Licitações e Contratos portal.

Differentiator

Problem solved

Functional benefit

Brands

• Codemig: Subsidiary focused on mining and niobium exploration through partnership with CBMM
• FIP Seed4Science
• FIP Biotec e Ciências da Vida

Products and services

• Concessões e PPPs
• Gestão de Ativos
• Projetos Estratégicos
• Geologia e Mineração
• M2 – Mercado Mineral

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• CodemigcoreStrategic or Co-development Partner · 1 January 2026In January 2026, a Technical Cooperation Agreement (ACT) was established between Codemge and Codemig defining the terms and conditions for institutional cooperation, integrating efforts, conjugating technical actions, and mutual collaboration for achieving strategic objectives of both companies.
• Companhia Brasileira de Metalurgia e Mineração (CBMM)coreStrategic or Co-development Partner · 1 January 2018Codemig (Codemge subsidiary) participates in a Sociedade em Conta de Participação (SCP) with CBMM for niobium exploration. Codemge holds 5% of Codemig, benefiting from this niobium exploration partnership. This is a strategic mineral asset partnership focused on valuing the mining potential of Minas Gerais.
• State of Minas GeraiscoreOthersThe State of Minas Gerais is the principal shareholder, holding 99.99% of Codemge's shares. The company operates as an integral part of the indirect state administration.

Scale indicators3 records

Recent moves8 records

Expansion highlights5 records

Emerging players

• CBMM (Companhia Brasileira de Metalurgia e Mineração): CBMM is Codemge's strategic partner in the niobium SCP and the world's dominant niobium producer. While private and mining-focused rather than a development agency, CBMM is directly comparable on the niobium exploration and production side of Codemge's mineral portfolio.

Regional players

• Desenbahia: Desenbahia is Bahia's state development agency focused on financing infrastructure, PPPs, and economic development projects. It mirrors Codemge's model as a state-owned vehicle for development financing and project structuring, but operates within Bahia rather than Minas Gerais.
• Desenvolve SP: Desenvolve SP is São Paulo's state development agency providing financing and structuring for infrastructure and PPP projects. While serving a different state, it operates an analogous mandate of supporting economic development through credit, guarantees, and project structuring in direct competition for private-sector partners.
• EMAE (Empresa Metropolitana de Águas e Energia): EMAE is São Paulo's state-owned water and energy asset management company, similar in being a state entity managing strategic utility-related assets and concessions. While its focus is energy rather than mining/PPP, it shares the model of state-owned asset stewardship with Codemge.
• CODESC (Centrais Elétricas de Santa Catarina): CODESC is Santa Catarina's state development entity holding strategic assets and participating in industrial and infrastructure projects. Like Codemge, it operates as a state-owned vehicle with diversified holdings, though its emphasis on energy assets differs from Codemge's mining-and-PPP focus.
• Companhia de Desenvolvimento Econômico de Pernambuco (CODIL): CODIL is Pernambuco's state development company managing economic development initiatives and state assets. It parallels Codemge's role as a regional economic development arm but operates in the Northeast region with a different industrial base.

Broad incumbents

• BNDES (Banco Nacional de Desenvolvimento Econômico e Social): Brazil's federal development bank provides large-scale financing, structuring, and oversight of PPPs, concessions, and strategic projects. While operating federally and at vastly larger scale, BNDES shares Codemge's mandate of funding economic development and structuring infrastructure partnerships.

Direct peers

• Invest Minas: Invest Minas is Minas Gerais's investment promotion agency, directly affiliated with the same state government that owns Codemge. Both entities promote economic development and attract investment to Minas Gerais, with overlapping mandates around PPP promotion and project origination.
• Codemig: Codemig is Codemge's former controlling subsidiary (now a 5%-held affiliate) that shares the same state ownership and operates adjacent mining, mineral rights, and infrastructure functions in Minas Gerais. Both entities manage mineral assets and now operate under a Technical Cooperation Agreement (2026), making them the most directly comparable counterpart.

Others

• FIAGRO / BNDESPar: BNDESPar is BNDES's equity and fund-management arm that participates in private investment funds and strategic assets. It is comparable to Codemge's FIP Seed4Science and FIP Biotec e Ciências da Vida vehicles in managing state-affiliated investment funds targeting strategic sectors.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@codemge
• LinkedInlinkedin.com/company/codemge
• Instagraminstagram.com/codemge

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Codemge